dms_668d0d5e353b3Class 1 Services Marketing Inaugural Session (1).pptx

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1. Services Marketing Inaugural Session By Prof. Kamesh Chivukula

2. Starters Assume you are going in a car towards Forest Park, if an elderly handicapped person stops you and asks you direction to reach Railway station what would you do? Tell him direction verbally or through Google Maps and ask him to go by auto… Call an auto and ask him to take the person to airport… Offer him lift in your car and drop him at Master Canteen square Misdirect him to the airport just for fun!

3. Why study Services? Agriculture was the main stay of humans for the past 5000 years Industrial revolution happened in 1760 onwards Services came into prominence from 1970s onwards

4. Why Services became important world wide? In Western Europe and North America Deregulation of the economies (in the 1970s) took place, this led to the privatization of a large number of industries. Reagan era, Thatcher era… Price controls were abolished In India in 1991 the Economy was liberalized and so a lot of sectors were opened up to the private and foreign players Banking, Airlines, Insurance, Transportation, Telecom, Hospitals, Hospitality, Buses, Education, government utilities, Consultancy services, IT & ITES sector, Accounting, Legal services, restaurants, food delivery companies, taxi aggregators, digital payment platforms, etc., boomed and millions of job opportunities opened up.

5. Importance of Services… Services add significantly to GDP

6. Importance of Services… In India the contribution of the 3 sectors to the GDP is given below: Share of sectors in GVA at current prices (%) Sector 2015-16 (2nd RE) 2016-17 (1st RE) 2019-20 (PE) Agriculture, forestry & fishing 17.7 17.9 17.0 Industry 29.8 29.3 29.1 Services 52.5 52.8 53.9 Source: Central Statistics Office; Notes: 2nd RE: Second Revised Estimates

7. Importance of Services to you.. SERVICES SECTOR is the maximum Employer of Medical, Engineering and Management students Quality of a service provided plays an important role in customer satisfaction A satisfied customer will recommend others about the company through word of mouth A service business can be very profitable because of less number of alternatives and customer loyalty Need to understand the fundamentals of marketing of services in order to do well and prosper in your job and life

8. Test your understanding Which sector contributes maximum to Indian services sector GDP? Petroleum Refining Telecom IT Transportation (railways, airlines, roadways and waterways) Top services company in India? SBI TCS Reliance JIO Airtel

9. Students Assignment-5 marks Each student needs to choose one company Every student has to read about the company on the internet and answer 3 simple questions QUESTIONS Define the core business of the company? When was it established, who are the promoters and who are its competitors? Which customer segment does it cater to? You can use demographic and psychographic segment classification. Deadline for submission will be informed later

10. Paytm Core Business –Digital Payments  Facilitates transfer of funds between individuals, banks, utilities and for online shopping Established August 2010, Vijay S Sharma Revenues 3281 crores ($460 millions) Competitors : Google Pay, Phone Pe, Dhani , BHIM Axis Pay, Mobikwik , Yono by SBI, ICICI Pockets. Customer segment  Digitally literate lower middle class, middle class and upper middle class- 18-60 years, urban, semi-urban, Income2 lakhs onwards Positioning of Paytm  Leader in the segment in India, 1 st digital payments platform in India who used UPI

11. Next Session Introduction to Services Marketing Defining Services Marketing? Examples of services Characteristics of Services compared to Products

12. Essential Readings Services Marketing-Integrating….by Zeithalm , Bitner, Ajay Pandit, etc Service Marketing by Christopher Lovelock Sapiens by Yuval Noah Harari Outliers by Malcolm Gladwell A short history of nearly everything by Bill Bryson

13. My Coordinates [email protected] 9861099866 (My WhatsApp number) You can create a Services Marketing WhatsApp group for SM and add me to it THANK YOU